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What else can I help you with?
Describe labor specialization?
Labor specialization led to a diverse West African economy. How?? I need a reason why.
What does specialization do for the economy?
it makes it more efficient
What is a one-resource economy?
a one-resource economy is an economy that relies on one thing
What is one resource economy?
a one-resource economy is an economy that relies on one thing
How can specialization benefit both buyers and sellers in a free market economy?
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
Describe labor specialization?
Labor specialization led to a diverse West African economy. How?? I need a reason why.
What does specialization do for the economy?
it makes it more efficient
What is a one-resource economy?
a one-resource economy is an economy that relies on one thing
What is one resource economy?
a one-resource economy is an economy that relies on one thing
How can specialization benefit both buyers and sellers in a free market economy?
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
What limits specialization in the global economy?
Trade barriers.
Ask us anythingIncreasing specialization within the global economy depends on what?
Increasing specialization within the global economy depends on several factors, including advancements in technology that enhance communication and transportation, allowing for more efficient production and distribution. It also relies on the comparative advantages of countries, where nations focus on producing goods and services that they can create most efficiently. Additionally, trade policies and international agreements facilitate the exchange of specialized products, further driving specialization and interdependence among economies.
How does specialization affect the economy?
Specialization increases an individual or groups productivity (and income) according to the principle of comparative advantage.
What is mono economy?
It refers to an economy, a national economy, which relies almost exclusively on the production and export of a single product
The global economy can have specialization in production because of what?
The international division of labor
What region relies on salmon as part of their economy?
North West
What is a synonym for postindustrial?
Postindustrial: of or relating to an economy that no longer relies on heavy industry.
